16th March 2023 #Banknifty Intraday Levels and Pre-Market Reports

Banknifty last close: 39051.50 (-0.9%)

On Wednesday, Banknifty was seen huge selling pressure and fell 0.9%
Banknifty was opened 39780 then fell up to 38935
All bank stocks was seen selling pressure
PSUBank index fell around 1%
VIX sustained around 16.30
CE side added huge OI
PE side not seen any significant OI on closing basis for 15 March

Banknifty is facing a intraday resistance 39230, 39350 and 39550
Above resistance are strong resistance for today’s trade

On other side, Banknifty can be considered as supports as 38900, 38750 and 38500
Major support around 38500

Updated: 08.31 am / 16th March 2023